Everything You've Ever Heard About Generating Leads For Your Business Is WRONG!
  
There are two things EVERY business owner wants. First, they want to generate more leads, attract more clients and make more money so they can eliminate any current financial distress they find themselves in. Second, they want to reach $1 million in annual revenue so they can begin to live the life they have always dreamed of having and so richly deserve.
The Marketing Inner Circle was specifically created to provide all small business owners with the tools, resources and support they need to accomplish both of these goals.
How? First, we help you target your ideal client, understand exactly what they want when they make their decision to buy, and create compelling marketing messages that enable you to out-market and out-sell your competition.
We even provide you with "done-for-you" marketing and advertising examples that are proven and tested to get real-world results. Once we help you to establish a successful and lucrative sales process, we then help you document this process and license it worldwide to others in your market.
When you begin to "franchise" your business in this manner, you not only build a multimillion dollar business but you now begin to work fewer hours while making more money.
Want proof?
Then put us to the test. Watch our business-altering video titled The 3 Biggest Lead Generation Mistakes Small Businesses Make... And How To Overcome Them All.
We'll reveal the strategies you can immediately deploy that will enable you to out-think, out-market and out-sell your competition.
Available for Free Here: www.MarketingInnerCircleCoaching.com
Insured and Uninsured Mortgage Stress Test Changes Confirmed for June 1, 2021
Starting June 1st, both insured and uninsured mortgage borrowers will be subject to a stricter stress test when qualifying for their mortgage.
The Office of the Superintendent of Financial Institutions (OSFI) confirmed on Thursday that it will move ahead with its stress test changes first announced last month, which will apply to uninsured mortgages (typically those with more than a 20% down payment).
Soon after, the Department of Finance confirmed it will follow OSFI’s lead, and apply the same stricter higher qualifying rate to insured mortgages, or those with less than 20% down.
In both cases, borrowers will need to prove they can afford payments based on the higher of the contract rate plus 2%, or a new floor rate of 5.25%, up from the current 4.79%.
The Impact on Borrowers
Applying the higher stress test to insured borrowers will impact roughly 1 in 5 mortgage borrowers, according to data from the Bank of Canada. It will also take direct aim at first-time borrowers who are more likely to be putting less than 20% down on a mortgage.
The higher minimum stress test is expected to cut maximum buying power by between 4% and 4.5%. For a median-income household, that would reduce the maximum purchase price from $442,000 to $422,000, according to previous estimates from National Bank.
STRESS TEST COMPARISON
Current 4.79% Stress test
$100,000 income
20% down payment ($128,000)
Purchase price of $640,000
Mortgage of $512,000
With 5.25% Stress test rate, will require $104,000 income
5.25% Stress Test Rate
$100,000 income
20% down payment ($122,000)
Purchase price of $610,000
Mortgage of $488,000
8 Tips for Budgeting for a Home Renovation
Whether you plan to renovate a house before moving in or are preparing to remodel your current abode, we know budgeting for a home renovation can be a tough process. First, you’ll need to determine what it is you really need versus what you simply want. Next, you’ll have to figure out how you’re going to finance the renovation in the first place. Once you have a general idea of how much money you have to spend on renovations (and where that money is coming from), you should be able to make better decisions on finishes, appliances and other renovation features.
Remember: most renovations end up costing more than originally thought, so be sure to have a money cushion set aside in case of emergencies. This is especially true if you plan to tear down walls and make structural changes, as these projects often end up with unwelcome surprises (think: water damage, mold or electrical and wiring issues). Many homeowners may also be concerned with ways to cut costs and save money without compromising the quality of the home. For tips on budgeting for a home renovation, check out our expert advice below.
8 tips for budgeting for a home renovation.
1. Decide on your top renovation needs and priorities
The reason for renovating your home probably has something to do with a need that isn’t being met by your current living situation. Perhaps it’s a need for more space or perhaps it’s a need for an updated bathroom. Whatever the reason (or reasons) for renovating, be sure to write down and prioritize all of your remodeling goals. For instance, a larger kitchen island may be at the top of your priority list, whereas updated appliances may be lower down on the list of needs. Keep your goals in mind and avoid getting side-tracked with smaller projects that can wait for later.
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